Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by McElhenny Sheffield Capital Management LLC

McElhenny Sheffield Capital Management LLC boosted its stake in Tesla, Inc. (NASDAQ:TSLA) by 54.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,657 shares of the electric vehicle producer’s stock after acquiring an additional 587 shares during the period. Tesla comprises approximately 0.2% of McElhenny Sheffield Capital Management LLC’s portfolio, making the stock its 25th largest position. McElhenny Sheffield Capital Management LLC’s holdings in Tesla were worth $669,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TSLA. King Luther Capital Management Corp raised its position in Tesla by 2.8% in the 2nd quarter. King Luther Capital Management Corp now owns 6,348 shares of the electric vehicle producer’s stock valued at $1,256,000 after purchasing an additional 173 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in Tesla by 62.5% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 20,289 shares of the electric vehicle producer’s stock valued at $4,015,000 after purchasing an additional 7,804 shares during the last quarter. Edge Capital Group LLC purchased a new stake in Tesla in the 2nd quarter valued at $522,000. Cyrus J. Lawrence LLC purchased a new stake in Tesla in the 2nd quarter valued at $82,000. Finally, Commonwealth Financial Services LLC raised its position in Tesla by 11.2% in the 2nd quarter. Commonwealth Financial Services LLC now owns 945 shares of the electric vehicle producer’s stock valued at $187,000 after purchasing an additional 95 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the subject of several research reports. Truist Financial reiterated a “hold” rating and issued a $360.00 price target on shares of Tesla in a research report on Thursday, January 2nd. HSBC reissued a “reduce” rating and issued a $124.00 price objective on shares of Tesla in a research note on Friday, October 11th. Evercore ISI boosted their price objective on shares of Tesla from $195.00 to $275.00 and gave the company an “in-line” rating in a research note on Friday, January 3rd. Stifel Nicolaus boosted their price objective on shares of Tesla from $411.00 to $492.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, Phillip Securities cut shares of Tesla from a “moderate sell” rating to a “strong sell” rating in a research note on Wednesday, November 13th. Nine investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Tesla presently has a consensus rating of “Hold” and an average target price of $299.33.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $413.56, for a total transaction of $2,894,920.00. Following the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at $45,063,565.40. This represents a 6.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $411.63, for a total transaction of $41,163,000.00. Following the transaction, the director now owns 5,400 shares in the company, valued at approximately $2,222,802. The trade was a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 621,886 shares of company stock worth $213,451,751. Corporate insiders own 20.70% of the company’s stock.

Tesla Price Performance

NASDAQ:TSLA opened at $426.50 on Tuesday. The firm has a market cap of $1.37 trillion, a price-to-earnings ratio of 116.85, a price-to-earnings-growth ratio of 6.53 and a beta of 2.30. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The company’s 50-day moving average is $389.94 and its two-hundred day moving average is $288.78. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. The company had revenue of $25.18 billion for the quarter, compared to analyst estimates of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.53 EPS. Research analysts expect that Tesla, Inc. will post 1.99 EPS for the current year.

About Tesla

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.